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WA Electricity Grid Needs Upgrade For Solar

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A leading energy export from the Australian Energy Market Operator has warned that the WA Electricity Grid requires upgrades over the next couple of years or else it risks being completely overwhelmed by the influx of solar in the state. 

The WA Electricity Grid & Solar

According to TheWest’s website, solar energy now makes up the majority of the WA Electricity Grid’s energy collection – representing around 700MW of capacity. They interviewed Cameron Parrotte, the head of strategy and innovation at the Australian Energy Market Operator – who noted that measures need to be put into place to manage the influx of solar into the grid before it starts to overload.  Parrotte said the amount of additional solar capacity is currently growing at 35% per year. 

“When you talk about comparison to other States, percentage-wise we are flying,” he said.

“Some people then say ‘you’ll start running out of roof space’.

“What you are tending to find is that some people who were the early adopters, some of their PVs are starting to reach the end of their life.

“Instead of putting up another 1kW to replace the 1kW they had, they’re putting in 5kW.”

Parrotte / The West said they believe solar power could fully displace conventional methods of energy generation (coal/gas fired plants) for short intervals within as few as five years. Initially, these intervals would be restricted to times when electricity demand is low (e.g. mild, sunny days in the middle of the day) but surely sends another message to those trying to delay the death of traditional electricity methods. It’s now up to providers and authorities to upgrade the grid and make sure it’s able to take the excess power solar will provide. 

We’ve previously written about blockchain powered P2P energy trading fintech platforms such as Power Ledger or WePower along with less technologically intense solutions such as community solar – the writing is on the wall here and it’s only a matter of time before renewable energy completely overtakes coal and gas fired plants, so it’s important the government act now to ensure the grid is capable of withstanding the new era of energy generation!

WA Electricity Grid - Sunwise - Ludlow Solar Installation
WA Electricity Grid – Sunwise – Ludlow Solar Installation (source: sunwiseenergy.com.au)

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WePower ICO – Fintech solution for green energy.

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Disclaimer: As of the date of publishing nobody at Saving with Solar currently has any investment in WePower but we are planning on joining the ICO.

At Saving with Solar we are extremely interested in the blockchain and how it can help solve issues for those generating solar power. Previously we’ve taken a look at Power Ledger (POWR) and today we’ll look at the upcoming ICO for WePower, which is a “blockchain-based green energy trading platform”. 

WePower ICO

The project allows producers of renewable energy to raise capital by issuing ERC20 energy tokens, which represent energy they commit to produce and deliver. They have support from state power regulators in Lithiuania and electric power companies and will target Europe – Spain, Italy, Germany, Estonia, and others. Numerous solar power plants which produce over 1000MW have joined the project: Conquista Solar, Civitas Project and Novocorex.

Development of the project is divided into three stages:

  1. WePower Breeze – market entrance – “challenging the way how energy investments and purchase are done today by creating the necessary technological layer for the change to happen’. 
  2. WePower Storm – growing the services and usability, and using smart contracts to aggregate and manage flows of renewable energy. 
  3. WePower Hurricane – the final step – a completely new decentralized energy utility.

ICO Start: 1 Feb 2018

ICO End: 15 Feb 2018

Hard cap: $35,000,000

Soft Cap: $5,000,000

Token: WPR, ERC20 standard

ICO Price: 1 ETH = 4000 WPR

Minimum investment: $200

Bonuses: 15% discount for early investors: before reaching the soft cap ($5 million) 4600 WPR will be deposited for 1 ETH.

Accepted currencies: ETH

If you’re interested in investing, click here to read the whitepaper they’re prepared ahead of the ICO. Although we believe in this project we in no way recommend investing in anything like this without doing your due diligence first. One negative, for example, is that there are already a number of projects in the sphere offering fintech solutions for green energy (e.g. Power Ledger). Another is that it hinges entirely on the progress of renewable energy. Obviously we’re bullish on that situation, to say the least, but many countries have a strong oil lobby and prices of oil have decreased recently. And, who knows, maybe a perpetual motion machine is just around the corner. 

Kaspar Kaarlep, the CTO of WePower, has a video below where he discusses their vision for energy transformation in Europe and across the world:

ICORating have assigned a “Positive” rating to the project and recommend it for both short and long term investors – saying the WPR tokens can be “considered both as investments for long-term portfolios, and for the purpose of speculative earnings on the expectations of a successful platform launch and demand for tokens from the initial customers for tokenized energy”. 

WePower ICO Whitepaper Rating
ICOrating.com gives WePower the
highest rate (source: WePower Newsletter)

View an introduction to the system by watching this video!

View a platform demo below:

 

If you have any questions, comments, or insight into this project we’d love to hear about it – please sound off in the comments and we can start a conversation about this exciting new technology. 

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Power Ledger Renewable Energy Blockchain ICO

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Power Ledger is a leading peer-to-peer (p2p) marketplace for prosumers and consumers to buy and sell renewable energy. It’s powered by the blockchain and has a token generation event coming soon. We’re super excited about this ICO and think it’s going to be a massive step forward for Australia, the blockchain, renewable energy, and especially energy tech in countries with emerging markets which could benefit greatly from this technology. With electricity prices surging over the past few years the market is ripe for energy sector disruption.

About Power Ledger

The platform is developed and working successfully in commercial settings in the Australian market (supported by “leading energy providers” such as Vector NZ, Western Power WA and TAS Networks)- a significant amount of investment has been placed in building relationships with market leaders in the Australasian energy and property sectors. Money raised in this ICO will be used to further expansion in Australia and abroad in emerging markets such as India.

Individuals and institutions will be able to participate in Power Ledger’s blockchain energy ecosystem by investing in POWR tokens, which will be tradeable on Ethereum and can also be converted to SPARKZ – which are unique tokens you can trade for units of electricity on the private blockchain Power Ledger will run.

David Martin, the managing director, discussed their plans for the future on the PL website: “We have been and remain the global leader in this technology space, and our platform is already changing the face of renewable energy trading in a number of communities,” said Martin. “We see our Token Generation Event as an exciting opportunity to bring democratic, peer-to-peer renewable energy marketplaces to many more countries across the globe.”

Power Ledger Token Generation Event

On August 25 Power Ledger announced that a heavy interest in their token generation event means that the Initial Coin Offering (ICO) – Australia’s first on the blockchain – could raise a total valuation of around $100m. The POWR tokens were offered at a pre-sale on August 27 with the first 100M offered to the public at a set price and another 90 million at a private discounted pre sale. The pre-sale ended up raising $17 million and was sold out within 72 hours. with Martin advising SmartCompany that the next  round could bring the funds raised by their ICO to between $20 – $30m.

Up to 250m more POWR tokens will be released in September -this will be an uncapped event (i.e. the market will determine the sale end price). There’s also a bounty campaign if you’re interested in spreading the word about Power Ledger and gaining some POWR (ERC20) tokens for helping.

Power Ledger Renewable Energy Blockchain ICO
Power Ledger (source: tge.powerledger.io)

For further information on the planned Token Generation Event, visit https://powerledger.io/ or join the Telegram group here. We’ll be posting an update as soon as the next POWR token sale date is announced!

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